Image via Wikipedia Today’s economy has created a glut of homes in foreclosure. If you are looking for a new home or another property for investment purposes, the foreclosures can actually be a great way to obtain property at a greatly reduced price. Here is a look at the steps you will take when purchasing a foreclosed property. Visit a bank or mortgage broker and get prequalified for a loan. You will now know exactly what you can afford. In addition, being a prequalifed buyer makes your offer more attractive. Find a real estate agent specializing in foreclosed properties. You … [Read more...]